>From earlier in the month, http://www.PublishersWeekly.com stated At a meeting with publishers set for Wednesday morning, Borders Group will unveil its long-awaited restructuring plan, but unless it contains substantial new information, publishers are likely to remain skeptical about its chances for success. According to sources, Borders’s conduct since it has filed for Chapter 11 has only…… Continue reading Borders to Pitch Skeptical Publishers
Tag: bankruptcy
Borders Leaves Publishers Unimpressed, Pushes for Better Terms
>Borders Leaves Publishers Unimpressed, Pushes for Better Terms As reported in PW Daily yesterday, Borders was facing a skeptical publisher audience Wednesday when it presented its reorganization plan and by most accounts publishers came away unimpressed. One publisher said the restructuring plan is “filled with very optimistic assumptions. Very.” The meetings with the creditors committee…… Continue reading Borders Leaves Publishers Unimpressed, Pushes for Better Terms
Borders Watch: Distribution Center Switch, Exec Incentives, New Terms Sought
>By Judith Rosen, http://www.publishersweekly.com: In its second turnabout within a week, Borders will close its Northeast distribution center in Carlisle, Pa., but keep the warehouse in LaVergne, Tenn., open for the foreseeable future, according to the Nashville Business Journal. Borders had announced in January that it would close the Tennessee facility this summer; it cut 216 jobs…… Continue reading Borders Watch: Distribution Center Switch, Exec Incentives, New Terms Sought
Borders to Decide Fate of 75 Stores This Week
>by Judith Rosen, http://www.publishersweekly.com: In a brief conference call to vendors Friday afternoon, Borders CEO Mike Edwards said that the company will make a decision this week on whether or not to close 75 more stores, an option it reserved in its first-day filing to close 200 stores. If it decides to close more outlets,…… Continue reading Borders to Decide Fate of 75 Stores This Week
Closings and Liquidation: A story of Borders
>I, personally, like borders. It’s a great bookstore, with plenty of options for everyone: teens, adults, scifi, romance, westerns, fiction, literary, music. Just a shame they have no business plan. By Tom Hals and Jennifer Saba – Mon Feb 14, 5:58 pm ET WILMINGTON, Del./NEW YORK (Reuters) – Bookseller Borders Group Inc (BGP.N) is reviewing bids from liquidators to close hundreds…… Continue reading Closings and Liquidation: A story of Borders
Saturday Bonus Posting: More Borders Troubles
> Borders bankruptcy filing expected early next week Borders Group may file for bankruptcy reorganization as early as Monday or Tuesday, according to a report in the Wall Street Journal. The No. 2 traditional bookstore in the U.S. also plans to close about 200 of its 674 stores and cut thousands of jobs, the…… Continue reading Saturday Bonus Posting: More Borders Troubles
Borders receives delisting warning from NYSE
> Troubled bookseller Borders Group Inc (BGP.N) said on Friday that the New York Stock Exchange warned it its low share price did not meet listing requirements. The company said it was notified on Thursday it was not in compliance with a standard requiring shares to maintain an average closing price of $1.00 over a 30 day trading period. Borders has six months to…… Continue reading Borders receives delisting warning from NYSE
Brick ONeil 